Abhoy Sarkar's Avatar
published in Blogs
Jan 29, 2022
Intel (INTC, $47.73) crushes fiscal Q4 expectations

Intel (INTC, $47.73) crushes fiscal Q4 expectations

Intel reported fiscal fourth-quarter earnings that surpassed analysts’ expectations,

The cloud computing company’s adjusted earnings came in at $1.09, handily topping the $0.91 expected by analysts polled by Refinitiv.

Revenue of $19.5 billion also exceeded analysts’ estimate of $18.31 billion.

The company expected $18.3 billion in adjusted sales in the first quarter of 2022, higher than consensus expectations of $17.62 billion.

Revenue from Intel’s Client Computing Group – its largest business - fell -7% year-over-year to $10.1 billion. However, the figure was still higher than analysts’ average estimate of $9.6 billion, (according to FactSet poll).

According to CNBC, Intel CEO Pat Gelsinger said in an interview that the annual decrease in the group was a result of customers and PC makers shifting sales from quarter to quarter.

Revenue from  Data Center Group rose +20% year-over-year to $7.3 billion, also beating expectations of $6.7 billion.

Related Tickers: INTC
Related Portfolios: Top Tech Stocks - Cloud Computing